Vallourec invests to meet the needs of the nuclear power industry

16/03/2009 - Activity and markets, France, United States, Power generation, Nuclear
Vallourec today announced that it will invest € 80 million in new production capacities to meet the growing needs of the nuclear power industry.

​Boulogne-Billancourt, 16 March 2009 - Vallourec, world leader in the production of seamless steel tubes, today announced that it will invest € 80 million in new production capacities to meet the growing needs of the nuclear power industry. These investments concern 3 production sites of Vallourec: Valinox Nucléaire in France and Valtimet in France and the United States:

World leader in the field of stainless steel and nickel alloy tubes for steam generators for nuclear power plants, Valinox Nucléaire, will invest in order to increase the annual production capacity of its Montbard plant (Côte d'Or, France) from 1,800 km of tubes in 2008 to 4,500 km of tubes in 2011.

World leader in the field of welded titanium and stainless steel tubes for secondary circuits for nuclear power plants, Valtimet will double production capacity for nuclear products at its plants of Venarey-les-Laumes (Côte d'Or, France) and Brunswick (Georgia, United-States).

Increasing electricity demand and the need to reduce global CO2 emissions are driving a nuclear renaissance resulting in an increase in the number of nuclear projects worldwide. Installed nuclear capacity is projected to increase by over 300 GW between 2006 and 20301. This new-build market, combined with life extension of existing capacity, is creating strong demand for specific tubular components exceeding the available offer. These planned investments will enable Vallourec to respond to the requirements expressed and confirmed by

its customers.

Pierre Verluca, Chairman of the Management Board stated: "These investments are fully in line with our strategy of growing our activities in the energy market, and notably in the nuclear industry, where Vallourec has built an expertise and leadership position over the past 30 years. Vallourec will continue to accompany its customers in their development and to elaborate with them the solutions needed to answer their most demanding technological challenges."

 

1 Source Areva (April 2008) mid-range of international agency projections.

 


About Vallourec

Vallourec is world leader in the production of seamless steel tubes designed primarily for the Oil & Gas and Power generation sectors, and for other industrial applications.

Vallourec is listed on the Euronext Paris Eurolist (ISIN code: FR0000120354), is eligible for the deferred settlement system and is included in the following indices: MSCI World Index, Euronext 100 and CAC 40. FTSE classification: engineering and machinery.

Valinox Nucléaire is a fully owned subsidiary of Vallourec. Established in 1974, the Montbard plant, produces U-bent tubes and various specialty tubular products made of stainless steels and nickel alloys exclusively for nuclear power plants. Valinox Nucléaire is also head and founding member of the Burgundy Nuclear Partnership (Pôle Nucléaire Bourgogne, “PNB”), a cluster of over 100 companies active in R&D, education and component manufacturing for the nuclear sector.

Valtimet is a 95% owned subsidiary of Vallourec. Established in 1975, Valtimet is the world leader in the production of stainless steel and titanium welded tubes for secondary systems in conventional and nuclear power plants. Valtimet has a production unit in Venarey-les-Laumes, at the heart of the “PNB” (France), and in Brunswick (US). It also has subsidiaries in China, India and South Korea.

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